Periscope was acquired by Twitter for less than $100m in January of 2015 and released in March because they wanted to compete (destroy) Meerkat. With that said, the app isn’t up to par just yet and a lot of functionality is missing. I’m confident that we’ll be seeing a lot of new releases in the very near future. The fact that Periscope gained 1 million users just 10 days after launching tells me that I’m not alone with my new obsession.